Cullen Frost Bankers Inc. reduced its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,249 shares of the pipeline company’s stock after selling 484 shares during the period. Cullen Frost Bankers Inc.’s holdings in Enbridge were worth $1,045,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of ENB. Bank of America Corp DE increased its position in Enbridge by 1,072.3% in the first quarter. Bank of America Corp DE now owns 30,748,683 shares of the pipeline company’s stock worth $1,286,524,000 after buying an additional 28,125,698 shares during the last quarter. Vanguard Group Inc. increased its position in Enbridge by 82.9% in the first quarter. Vanguard Group Inc. now owns 38,983,086 shares of the pipeline company’s stock worth $1,631,051,000 after buying an additional 17,671,076 shares during the last quarter. Bank of Montreal Can increased its position in Enbridge by 72.4% in the first quarter. Bank of Montreal Can now owns 38,965,561 shares of the pipeline company’s stock worth $1,630,318,000 after buying an additional 16,369,985 shares during the last quarter. State Street Corp acquired a new position in Enbridge during the first quarter worth about $478,509,000. Finally, TD Asset Management Inc. increased its position in Enbridge by 28.2% in the first quarter. TD Asset Management Inc. now owns 41,491,668 shares of the pipeline company’s stock worth $1,733,219,000 after buying an additional 9,123,400 shares during the last quarter. Institutional investors own 63.37% of the company’s stock.
Enbridge Inc (ENB) traded up 0.74% during trading on Friday, reaching $39.42. 1,480,343 shares of the company’s stock traded hands. The company has a market capitalization of $64.88 billion, a price-to-earnings ratio of 31.92 and a beta of 0.62. The firm’s 50 day moving average is $40.61 and its 200-day moving average is $40.85. Enbridge Inc has a 12 month low of $37.37 and a 12 month high of $45.77.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.05. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the prior year, the firm posted $0.50 EPS. Analysts expect that Enbridge Inc will post $1.58 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a dividend of $0.489 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.96 annualized dividend and a yield of 4.96%. Enbridge’s dividend payout ratio is 190.29%.
ENB has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “strong sell” rating in a research report on Monday, April 24th. J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 price target on the stock. BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Wolfe Research assumed coverage on shares of Enbridge in a research report on Friday, May 12th. They issued a “market perform” rating and a $43.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. Enbridge presently has an average rating of “Hold” and a consensus price target of $54.00.
Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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